May 14, 2012

Weekly Wrapup: Feds to Keep Funding Dispensary Raids + MMJ Lawyer Faces Repercussions

Medical cannabis news, marijuana dispensary updates and MMJ industry developments

Talk about a missed opportunity.

Federal lawmakers could have taken a big step toward progressiveness on the medical marijuana front last week. The opportunity came gift-wrapped in the form of a bill that would have nixed government funding for raids on dispensaries and other MMJ businesses. The measure would have sent a clear message to President Obama that the government should back off cannabis companies complying with local regulations and laws. It also would’ve further legitimized the entire industry.

Lawmakers, however, shot down the bill by a wide margin after nearly an hour of debate. The vote split along party lines, as is usually the case with medical marijuana measures. Democrats overwhelming supported the proposal to cut the funding pipeline for raids, while Republican lawmakers opposed it (90% voted against the measure).

It’s not a huge setback for the industry, as the measure wasn’t expected to pass anyway – despite a last-minute push by medical marijuana advocacy organizations to get support for the measure. But the development is discouraging nonetheless, as it seems Washington is digging in its heels amid growing acceptance of medical cannabis across the nation.

There was also a troubling development last week in Colorado, where a lawyer reportedly lost her malpractice insurance coverage because she has represented medical marijuana companies and individuals involved in the industry. The lawyer’s insurance company – Hanover Insurance Group – informed the attorney that it would not renew her liability coverage because working with medical marijuana clients violates its underwriting guidelines. If other insurance firms take this same stance, attorneys and other professionals could sever ties with MMJ businesses – which would exacerbate the industry’s already-monumental challenges.

Other top stories last week:

MMJ Business Daily Launches Marijuana Business Directory

Breaking into MMJ: How to Identify Medical Cannabis Opportunities


One Comment:

  1. I know I am just one single vote, but I have heard that every vote counts. My advice to all people that is in favor of insisting on their god given rights. to vote against any one, that does not believe in what you believe in.
    Also I will not have any thing to do with any company that does not want to go along with my desires , and my rights, such as (Hanover insurance group) there is always other people, who want our business. When these companies find out that their stupidity is costing them money, their stock holders will make them change their mind.

Post Your Comment:


Please note:
Comments are moderated by our editors who do their best to approve comments ASAP. As Marijuana Business Daily is focused on business, we approve comments that are specifically relevant to industry professionals. General opinions and questions about cannabis may not be posted.

OH Legalization Campaign Sabotage Allegation Tossed

A complaint filed by one marijuana legalization campaign against another in Ohio was dismissed unanimously [click to continue...]

Big MN-Backed Grower Applies for Coveted NY License

new york mmj

Kyle Kingsley, MD, is hoping he’s found a way to expand his cannabis cultivation company [click to continue...]

Four WA Rec Stores Sell to Minors in Sting Operation

A quartet of recreational cannabis shops in Washington State wrongly sold marijuana to minors in [click to continue...]

New Lawsuit: CO Cannabis Baron Breaking IL MMJ Rules

Yet another lawsuit has been filed in Illinois over the licensing process in the state’s [click to continue...]

Facebook Blocks MMJ Educational Video

regulations

Medical cannabis apparently isn’t socially acceptable in Connecticut. At least, not by Facebook. A marketing [click to continue...]

Former OH Lawmaker Joins Cannabis Legalization Campaign

Former state Senate Minority Leader Eric Kearney, a Democrat from Cincinnati, has been hired by [click to continue...]

‘Worthless’ CBD Bill Heads to Texas Governor

The Texas Legislature has sent a bill allowing CBD treatments for some epilepsy patients to [click to continue...]

Debate Over New MMJ Business Restrictions in Oregon

Oregon medical marijuana developments and cannabis news

Just a week after one legislative committee fought to a standstill over Oregon’s medical cannabis [click to continue...]

Cannabis Cultivation Contender in Illinois Drops Lawsuit

One of several losing contenders in Illinois’ medical marijuana program has withdrawn a lawsuit it [click to continue...]

Denver MJ Law Firm Funds Local Cannabis Professorship

Vicente Sederberg LLP, perhaps one of the best known marijuana legal firms in the country, [click to continue...]

AZ Cannabis Farmer’s Market Club Raided by SWAT

arizona medical cannabis

Nine people were arrested at five locations after an Arizona SWAT team raided a medical [click to continue...]

Denver Grower Loses Court Fight Over Pesticide Quarantine

Denver marijuana cultivator Organic Greens was shot down in court on Friday by a district [click to continue...]

Revamped MA Dispensary Guidelines Make Process More Transparent

Medical marijuana dispensary license applicants in Massachusetts will be judged on their own merits under [click to continue...]

FDA Says CBD Products Don’t Qualify as Dietary Supplements

FDA

The U.S. Food and Drug Administration has ruled that cannabidiol products don’t fit under the [click to continue...]

Marijuana Business Daily